Trade Idea IWM Short/Puts

I'm opening an IWM short, I think an equity or ETF short such as SRTY would be easier to navigate chop, but I suspect I'll go with June 19th $124 Puts, they have some time on them.

I'll post the charts in a moment, but TICK is not cooperating. The averages are in a short squeeze, not an accumulated rally, you can tell by the very linear [price action with no corrections intraday and it makes some sense where we are on the daily chart.

Meanwhile VXX continues to accumulate, XIV is distributing which would be the exact signals expected for a move that was near failing.

I have confirmation on the IWM negative divergence in both the IWM and TF/Russell 2000 futures.

I want enough time to let this play out a bit, but I suspect this is just about the right timing for an entry.